'Maggie' Drilling for Oil off Money River Coast

After BNE's commercial find, oil exploration efforts in Belize seem to have accelerated. Last week Island Oil Belize Limited advertised that commencing July 10th of this year they would be operating a jack-up vessel or oil rig off the coast of Monkey River and south along the coast toward Punta Gorda. The vessel "maggie" will be moving around in a 489,268 acre area east of Monkey River in oil exploration block number 12.

Island Oil joins BNE, U.S. Capital Energy Belize, RSM Production Corporation, and Lagoon Resources ltd as companies actively pursuing oil exploration in Belize.